According to PERC, more than 600,000 propane-fueled forklifts are in operation today in U.S. manufacturing facilities, warehouses, and distribution centers, and there are many reasons for such widespread use, including environmental and operational performance, as well as positive economics. The latter was enhanced by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act passed by Congress in December 2010 that extended a $0.50/gal alternative motor fuel tax credit through Dec. 31, 2011, which includes propane. Furthermore, the tax credit approval was also applied retroactively for 2010.

Internal Revenue Service (IRS) guidance on retroactive fuel credit claims for tax year 2010 noted a 180-day period to submit all claims, which expires Aug. 1. Claims may be filed only once, and facility owners claiming the tax credit for 2010 must be registered with the IRS and follow all documentation requirements.

PERC recommends facility owners consult their tax advisors regarding claims for credits or refunds, and the IRS website for appropriate dates and forms.

Robotics, automation, 3D printing, drones and autonomous vehicles are among the hot areas in industry this year, and the young entrepreneurs on the Forbes 30 Under 30 list in Manufacturing and Industry are finding lots of opportunities.

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